Reinsurance and Insurtech solutions provider Lexasure One Degree GlobalIXT Insurtech Solutions and Cybersecurity Services, a leader in insurtech solutions and cybersecurity services, have announced a new joint cyber insurance solution.
The platform, announced during the ITC Asia conference in Singapore, aims to address growing cybersecurity threats in South and Southeast Asia.
The partnership brings together Lexasure’s reinsurance expertise and OneDegree’s technology to deliver a digital-first cyber insurance platform.
The platform, Reinsurance-as-a-Service (RAAS), offers a fully digitised customer experience, right from onboarding, risk profiling to policy issuance.
Integrate advanced cyber risk exposure scanning solutions into your underwriting process.
The technology enhances risk assessment by generating a real-time security posture score within one minute and enables eligible SMBs to receive instant policy issuance within 10 minutes.
Ian Lim
“The real-time risk assessment in such a complex field and the near-instant issuance of insurance policies to covered companies is a major advantage and is optimized for the needs of SMEs and industries.
“By combining ODG’s (OneDegree Global) rating solutions and the ongoing innovation in digital reinsurance on our platform, the RAAS platform offers a scalable, cost-effective way to manage risk without having to invest in proprietary reinsurance infrastructure.”
Ian Lim, CEO of Lexasure, said:
Michelle Yip
“As digital technology continues to permeate every aspect of our lives, the digital realm faces an unprecedented rise in cyber threats.
Small and medium-sized businesses in particular face significant challenges as a large proportion of their cyber risks remain uninsured or underinsured.”
Michelle Yip, CEO of OneDegree Global, said:
